TSLA - Impala Platinum Is Starting To Look Like A Value Trap And I'm Turning Bearish
- The company booked revenues of $8.49 billion and adjusted EBITDA of $4.01 billion in FY21, up by 86% and 109% YOY, respectively.
- However, rhodium and palladium accounted for 72% of Impala Platinum’s sales and the prices of the two metals are crashing.
- There is likely more pain ahead as there is no end in sight for the global chip shortage and BEV sales are expected to double in 2021.
- I doubt rhodium and palladium demand and prices will recover and now I’m bearish on Impala Platinum.
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Impala Platinum Is Starting To Look Like A Value Trap And I'm Turning Bearish